The following are the hard pulls on my credit right now. Creditor Name Date of Inquiry Credit Bureau CITIBANKNA 06/07/2007 Equifax KROLL FACTUAL DATA/060 04/10/2007 Experian HSBC NV 04/09/2007 Experian CBCINNOVIS 03/22/2007 Experian CBCINNOVIS 03/22/2007 Equifax KROLL FACTUAL DATA/060 03/12/2007 Experian KROLL FACTUAL DATA/060 03/12/2007 Experian HSBC AUTO 01/22/2007 Experian CAPITAL ONE AUTO FINAN 03/10/2006 Experian CAPITAL ONE AUTO FIN 03/10/2006 Experian CAPITAL ONE BANK 03/08/2006 Experian CIT BANK/DFS 09/02/2005 Experian As you can see, not a lot falling off any time soon. Just one EX coming off next month, bringing me down to 9. Now, the 3 Cap1's, one was a CC which is an open account, and the other 2 on the same day, both from EX, though I only applied once, are from requesting a car loan, for which I was denied. The 2 KROLL's on 3/12/2007 are from one app with my mortgage broker. The 2 CBCINNOVIS (1 EQ, 1 EX) on 3/22 are from another mortgage broker who I probably won't use. The KROLL on 4/10 is from the apartment complex we moved in to waiting for our house to be built. So I'm currently showing 10 hard pulls on EX with one due to fall off next month, a few days before I pull my final CR to lock in the mortgage. Now, according to both myFICO and TC, an additional revolving account should help my score. I received an offer in the mail from Discover yesterday with a guaranteed minimum CL of $500, 0% APR on purchases until 5/2008, 3.9% APR on balance transfers until 2011, and 13.99% APR on purchases after 5/2008. (13.99% is the lowest rate I've ever been offered!). And they have all of their cash back rewards as well. But when I called them, while they said they can't guarantee which report will be pulled, she checked a bunch of other apps from my city and they ALL pulled EX. Should I still apply?
Don't do any more apps before the mortgage closing. The inquiries will hurt your scores for a year. The EQ inquiries that didn't lead to TL's can be handled the EX inqs remain for 25 months.
As far as these Equifax inquiries are concerned, I would go check http://consumers.creditnet.com/Discussions/credit-talk/t-equifax-hard-pulls-66166.html since it is the easiest way to get rid of them. I wouldn't mind taking a shot at those associated with your TLs. Experian's a lot harder but immediate cure could be to call them with current report and request to remove "duplicate inquiries" such as CAPITAL ONE AUTO FINAN 03/10/2006 Experian CAPITAL ONE AUTO FIN 03/10/2006 Experian or KROLL FACTUAL DATA/060 03/12/2007 Experian KROLL FACTUAL DATA/060 03/12/2007 Experian As for other Experian inquiries, I would send letter to OCs even without CMRRR in a cheap and dirty way. In my experience, they will say just yes or no depending upon their mood on that particular day. 5-6 bucks per inquiry isn't definitely worth at all. Applying for another credit based upon TC or MyFico diagnosis isn't necessarily recommended in my opinion, but if you feel you need another credit card or you have just too small number of cards, you should get this regardless of the scar it will make in your CR.
Re: Equifax inq removal. Inqs associated with TL's were a no go. For me anyway and I didn't want to chance losing my best tradelines.
Most inquiries over 12 months are no longer counted for Fico scoring. Equifax is easy to dispute off if not tied to a tradeline. Transunion & Equifax can be bumped off with True Credit. Experian will be very difficult.I would try and remove the duplicates with a phone call.
I understand the whole process of removing for the different CRA's. My point is I have 9 EX inquiries total. 2 look like dupes, which I am about to call about. And maybe one more will be discounted as the second one for mortgage shopping, so both should only count as 1 inquiry, from what I've read. So maybe that gets me down to 6. According to myFICO, at least as of early July, EX was my highest score. (Strange that it's lowest on TC, but I digress). If Discover is definitely going to pull EX, which it looks like they will, I don't want to hurt that score with another inquiry so close before finalizing my CR's for the mortgage. Or will the new account help more than hurt? Here's my current good credit: Cap 1 - Limit 1000, Bal 300, paying off next week, opened 3/06. Orchard - Limit 300, Bal 0, opened 4/07 Crown Jewelers - Limit 500, Bal 0, opened 4/07 Target - Limit 200, Bal ~50, paying off next week, opened 1/07 Sallie Mae - Since 1999, never late, Bal ~31000 HSBC Auto - Since 1/07, never late, Bal ~25000 (EX Only)AU on Father's Chase - Limit 20000, Bal ~18000, opened 12/06 (Not Reporting Yet, but should be soon since 8/7 was 60 days since added, which is how long the CC company said it will take to report) AU on wife's Grandmother's CC - Limit ~12000, Balance ~1000, opened during the Jurassic Era And I'd be adding a Discover with a min CL of 500, hoping I'd get at least 1000, though. So, would it help or hurt to apply for this card (guaranteed approval). I know I've read that beyond a certain number of inquiries, additional ones don't hurt, but I don't think I'm close to that range, am I? Even if the inquiry would hurt, do you think the account would help more than the inquiry would hurt?
I have removed 4 inquiries directly associated with TLs without ever hurting those good TLs. I will write about all these in detail after my third and last experiment is finished and confirming. As for the new application and credit score, it will definitely hurt for next few months, but in the long haul it could help. Depending upon how soon you are up for big purchases, you might or might not want to compromise your score now.
I applied and received four new credit card accounts within the last six months.Granted I have zero negatives,but I lost on average of 8-10 points per bureau on my Fico scores.I ignore all other score models as they are useless in my opinion. I have heard of a way to dispute Experian inquiries by placing a fraud alert in your file and disputing directly with their Fraud department.I have not tested this because I don't want a fraud alert in my files.
